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CoreWeave raises profit guidance as construction-in-progress jumps $2.3B, signaling strong AI infrastructure growth.

Company Fundamentals
13 Aug 2026
Seeking Alpha
View Source
Bullish
CoreWeave raises profit guidance as construction-in-progress jumps $2.3B, signaling strong AI infrastructure growth.

CoreWeave reported a significant $2.3 billion increase in construction-in-progress to $11.9 billion in one quarter, indicating rapid expansion in AI infrastructure. This growth translates to about $496 million in new quarterly depreciation, reflecting heavy investment in capacity. The company raised its full-year profit guidance to $55 million at the midpoint and saw contracted power capacity rise from 3.7 to 4.2 gigawatts shortly after quarter-end. This surge follows Nvidia's agreements to mobilize $500 billion for AI development, suggesting improving market sentiment and strong demand in the neocloud sector. CoreWeave's outlook has been upgraded to a buy based on these positive trends.

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